Permanently Barred by FINRA

Broker Justin Amaral Permanently Barred from Securities Industry

October 15, 2015 | Silver Law Group

Failure to provide on-the-record testimony to FINRA results in disciplinary action

After termination from employment with Morgan Stanley in 2014 following allegations surrounding his status as an executor and beneficiary in a client’s estate and his use of discretion in several client accounts, broker Justin Amaral has been permanently barred from the securities industry by FINRA.

According to Amaral’s BrokerCheck record, as of June 2015 the Boston-based broker’s 12 years in the securities industry has ended as a result of his failure to appear for an on-the-record testimony requested by FINRA during the course of an investigation. The requested testimony may be related to the reasons Morgan Stanley terminated Amaral’s employment.

Antonio Costanzo Permanently Barred by FINRA After Alleged Churning in Customer Accounts

October 9, 2015 | Silver Law Group

Broker failed to respond to FINRA information requests after allegations of excessive trading in numerous customer accounts

After 19 years in the securities industry, Antonio Costanzo has received a permanent bar from FINRA from acting in the capacity of a broker or other financial adviser, according to the FINRA website. The sanction, levied in May, came after a 2014 allegation that Costanzo was involved in churning, or excessive trading, in several customers’ accounts while employed at Newport Coast Securities.

Churning is, unfortunately, a common form of stockbroker misconduct in which a financial adviser makes excessive trades in an account in an effort to generate greater commissions without actually benefiting the customer. In fact, the buying and selling activity involved in churning is unsuitable to the investor’s goals and serves no practical purpose to the investor but generates substantial commission for the stockbroker.

James E. Scott Permanently Barred from Securities Industry by FINRA

August 24, 2015 | Silver Law Group

Barred for allegedly aiding and abetting violation of federal securities law

After 16 years in the securities industry, James E. Scott has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Scott was most recently registered with International Assets Advisory, LLC.

According to the FINRA BrokerCheck website, Scott worked as a long-time sales assistant for an individual broker referred to in the disciplinary action as “RO.” From April 2012 through December 2012, Scott allegedly aided and abetted RO to continue acting as a broker – engaging in the recommendation and sale of securities transactions – in the state of Texas.

Broker Charles D. Johnson Permanently Barred by FINRA

June 9, 2015 | Silver Law Group

His career in securities ends with failure to respond to FINRA request

After only six years in the securities industry, broker Charles Damien Johnson has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. According to the FINRA BrokerCheck website, Johnson failed to respond to a FINRA request for information and was sent a notice of suspension in August of 2014. Since he then failed to request termination of his suspension within three months of the date of notice of his suspension, he was automatically barred from association with any FINRA member in any capacity as of November 10, 2014.

During his career in the industry, Johnson nonetheless worked for at least 10 investment firms in the New York state area. His dates of employment and employers are listed below:

Employment Dates	Employer Name	Employer Location
01/2013 – Present	Laidlaw & Co (UK) Ltd	Melville, NY
06/2012 – 12/2012	Global Arena Capital Corp	New York, NY
07/2010 – 06/2012	National Securities Corp	Huntington, NY
07/2009 – 07/2010	New Castle Financial Services, LLC	Melville, NY
09/2008 – 07/2009	Morgan Wilshire Securities, Inc.	Westbury, NY
10/2007 – 09/2008	National Securities Corp	Huntington, NY
07/2007 – 10/2007	EKN Financial Services, Inc.National Securities Corp	Woodbury, NY
11/2006 – 02/2007	Morgan Wilshire	Woodbury, NY
11/2006 – 02/2007	SW Bach & Co	Port Washington, NY
01/1997 – 10/2006	Argo Financial	Melville, NY

While moving from firm to firm seems to have been voluntary, Johnson’s employment with Global Arena Capital Corp was terminated on December 12, 2012 for “circumvention of firm policy” according to the FINRA BrokerCheck website.

Why are we telling you all of this?

To let you know that, if you’re an investor who suffered financial losses at the hands of Charles D. Johnson, or any other financial advisor, you may be eligible to recover your losses through securities arbitration. The key is to turn to the right securities fraud attorney with proven expertise in recovering lost funds.

At Silver Law Group you’ll find an experienced securities attorney committed to help recover investment losses due to stockbroker misconduct. With lawyers admitted to practice in New York and Florida – representing investors nationwide – you can expect a complimentary consultation and a case handled on a contingent fee basis, meaning you don’t pay legal fees unless Silver Law Group is successful. Contact us today to schedule your free consultation and discuss your legal rights.